Property market expecting moderate growth

Australian house prices are expected to climb moderately over the next 12 months according to NAB’s Residential Property Survey.

House prices are expected to rise over the next two years.

But while the future looks bright for buyers, renters can expect to endure more heartache, with the average rent forecasted to rise by 3.5 per cent by March 2012 and 5.2 per cent by 2013. This is largely due to Australia's dwelling shortage.